Business
Shell Canada Completes Acquisition of BlackRock Ventures
Shell Canada Completes Acquisition of BlackRock Ventures.
About this update from Mapath Capital Corp
[{"type":"text","content":"\n\n\n\n\nCALGARY, July 10 /CNW/ - Shell Canada Limited (TSX:SHC) and BlackRock\nVentures Inc. (TSX:BVI) jointly announced today that as of 1:01 a.m. on July\n10, 2006 approximately 257,968 additional common shares of BlackRock have been\nvalidly deposited to the offer by BR Oil Sands Corporation, a wholly-owned\nsubsidiary of Shell Canada, to acquire all of the common shares of BlackRock\n(including common shares issuable upon the exercise or surrender of any\noptions or conversion of any convertible debentures). BR Oil Sands Corporation\nhas taken up these additional shares, which, together with those shares\npreviously taken up, represent approximately 99.38% of the common shares of\nBlackRock on a fully-diluted basis. BR Oil Sands Corporation will pay for\nthese additional shares today by providing the depositary with sufficient\nfunds for transmittal to the holders of these shares.\nShell Canada first announced its intention to make the offer on May 8,\n2006, and BR Oil Sands Corporation mailed its take-over bid circular to the\nshareholders of BlackRock on May 11, 2006. The offer was extended twice to\nallow BlackRock shareholders an additional opportunity to tender their shares.\nBR Oil Sands Corporation will now exercise its statutory rights under the\nCanada Business Corporations Act to compulsorily acquire the remaining\nBlackRock common shares that were not deposited to the offer. Following the\ncompulsory acquisition, BR Oil Sands Corporation intends to cause BlackRock to\nde-list the BlackRock common shares from the Toronto Stock Exchange and to\napply to securities regulatory authorities to cease to be a reporting issuer.\n\nShell Canada Limited\n\nShell Canada is a large Canadian integrated petroleum company with three\nmajor businesses. Exploration & Production explores for, produces and markets\nnatural gas and natural gas liquids. Oil Sands is responsible for an\nintegrated bitumen mining and upgrading operation in the Athabasca area of\nAlberta and the company's Peace River in situ bitumen business. Oil Products\nmanufactures, distributes and markets refined petroleum products across\nCanada.\n\nBlackRock Ventures Inc.\n\nBlackRock Ventures is an oil sands producer with operations located\nexclusively in Canada. Current operations are located in three heavy-oil\nregions: the Peace River oil sands, the Cold...